Open Text Corporation
NASDAQ : OTEX
TSX : OTC

Open Text Corporation

September 21, 2005 09:20 ET

Open Text, InSystems Extend Partnership to Improve Speed-to-Market for Insurance, Financial Services Companies

CHICAGO, ILLINOIS and TORONTO, ONTARIO--(CCNMatthews - Sept. 21, 2005) -

Combined Solutions Provide More Efficient Document Processes, Speed Compliance with Regulatory Requirements

Open Text™ Corporation (TSX:OTC)(NASDAQ:OTEX), the leading independent provider of Enterprise Content Management (ECM) software, and InSystems Corporation, the specialist in complex document and compliance automation for insurance and financial services companies, said today they will extend their eight-year partnership. The companies will focus on delivering solutions that improve document processes and regulatory compliance for insurance and financial services companies, while speeding time-to-market for their products.

The extension of the partnership will mean enhanced integration of Open Text's Livelink ECM Solutions with InSystems' specialized document and compliance automation solutions for insurance and financial services companies. The solutions will address a range of compliance mandates, including regulations for managing information on insurance and financial services products, and requirements for financial reporting. Open Text and InSystems will target insurance and financial services companies in the U.S. and Canada.

With the companies' combined offerings, customers will gain enterprise-wide solutions for managing all content -- Web pages, ERP content, emails, Word documents and more -- in accordance with specialized industry requirements. Compliance requirements for information can be extended consistently across all content, while improving the efficiency of operations and reducing costs.

"Improving time-to-market is a top concern for insurance and financial services companies facing growing regulations for the information they maintain on their products and services," said Joseph McLaughlin, Senior Vice President of Global Partners at Open Text. "This, combined with other regulations and the complexity of processes in the industry, presents a real challenge for these customers. By combining our broad ECM capabilities with InSystems' specialized document and compliance automation solutions, we can address these complexities in ways that allow customers to be both compliant and competitive."

"A key part of our strategy is partnering with leading ECM software providers. Over the last eight years, we have achieved the deepest integration and most successful customer set working with Open Text," said Neil Betteridge, Vice President of Marketing at InSystems. "We look forward to many more years of joint success."

Through the partnership, InSystems' Calligo and Tracker product lines have been fully integrated with Open Text's Livelink ECM. Livelink ECM provides key services underlying InSystems solutions' unparalleled breadth of support for accelerating insurance product development and state regulatory filing processes. Livelink ECM delivers the increased functionality and utility to insurance and financial services organizations. Open Text's deep experience in integrating ECM offerings with existing IT frameworks makes its technology a perfect match with InSystems' leading, industry-specific document and compliance automation technology. InSystems' customers, who currently reap the benefits of automating complex document processes such as policy fulfillment, can now extend those deployments with additional capabilities such as production imaging and business process management.

As part of the partnership, the companies will work together to identify additional solutions for insurers, combining both companies' technologies, and expand joint sales and marketing efforts.

About InSystems

InSystems specializes in complex document and compliance automation for insurance and financial services. Its software solutions allow organizations to achieve operational excellence by automating the creation, management and multi-channel distribution of customized documents, and streamlining the product development and regulatory filing processes. InSystems' solutions give business users more control, with less dependence on IT resources. These solutions are developed, delivered and supported by a team with specialized knowledge and experience. InSystems (www.insystems.com) has more than 350 insurance customers, including over 50 of the 100 largest insurance groups in North America. InSystems, founded in 1989, is a subsidiary of Standard Register (www.standardregister.com) a $1 billion provider of information solutions.

About Open Text

Open Text™ is the leading independent provider of Enterprise Content Management (ECM) solutions that bring together people, processes and information in global organizations. Today, the company supports 20 million seats across 13,000 deployments in 114 countries and 12 languages worldwide. For more information on Open Text, go to: www.opentext.com

This news release may contain forward-looking statements relating to the success of any of the Company's strategic initiatives, the Company's growth and profitability prospects, the benefits of the Company's products to be realized by customers, the Company's position in the market and future opportunities therein, the deployment of Livelink and our other products by customers, and future performance of Open Text Corporation. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the Form 10-K for the year ended June 30, 2004. You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.

Copyright (C) 2005 by Open Text Corporation. LIVELINK and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.

Contact Information

  • Open Text Corporation
    Margaret Dobbin
    Director, Industry Analyst Relations
    +1-519-888-7111 ext.2410
    mdobbin@opentext.com
    or
    Open Text Corporation
    Richard Maganini
    Director, Corporate Communications
    +1-847-267-9330 ext.4266
    rmaganin@opentext.com